Republic of Chile’s Dollar and Euro Denominated Debt Offerings

Cleary, Gottlieb, Steen & Hamilton, Morales & Besa, Shearman & Sterling and Philippi, Prietocarrizosa, Ferrero DU & Uría advised on the transactions

Republic of Chile finalized the registered offerings of $1,541,831,000 3.860 percent notes due 2047 and in a further issuance of €700 million 1.875 percent notes due 2030 of Chile’s €950 million 1.875 percent notes due 2030 initially issued on May 27, 2015.

Joint lead managers and bookrunners for the notes were Citigroup Global Markets, Goldman Sachs & Co., HSBC Securities and J.P. Morgan Securities. Both offerings priced on June 13, 2017. The euro notes offering closed on June 20, 2016, and the USD notes offering on June 21, 2017.

Chile used a portion of the net proceeds of the USD notes to pay the purchase price for bonds tendered to J.P. Morgan Securities LLC as billing and delivering bank under an intra-day secondary trade tender offer launched simultaneously with the announcement of the new money offering.

Cleary, Gottlieb, Steen & Hamilton advised Republic of Chile with Andrés de la Cruz (Picture), Erika Nijenhuis, Julian Cardona, Francisco Cravero and Santiago Achurra.

Morales & Besa advised Republic of Chile with Guillermo Morales E., Ignacio Menchaca G., Jaime Rosso G., Vicente Valdés and María José Rojas A.

Shearman & Sterling LLP advised HSBC Securities (USA) Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC with Stuart Fleischmann, Grissel Mercado, Flavio Averbug and Alessandra Azcárate.

Philippi, Prietocarrizosa, Ferrero DU & Uría advised HSBC Securities (USA) Inc., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC with Marcelo Armas, Marcela Silva, Daniel Parodi, Isidora Edwards, Vicente Vergara and Benjamín Cuevas.

 

Involved fees earner: Marcelo Armas Mac Donald – Philippi Prietocarrizosa Ferrero DU & Uría; Marcela Silva Gonzalez – Philippi Prietocarrizosa Ferrero DU & Uría; Daniel Parodi – Philippi Prietocarrizosa Ferrero DU & Uría; Isidora Edwards – Philippi Prietocarrizosa Ferrero DU & Uría; Vicente Vergara Campusano – Philippi Prietocarrizosa Ferrero DU & Uría; Benjamín Cuevas – Philippi Prietocarrizosa Ferrero DU & Uría; Guillermo Pizarro U. – Morales & Besa; Guillermo Morales – Morales & Besa; Ignacio Menchaca – Morales & Besa; Vicente Valdés – Morales & Besa; María José Rojas – Morales & Besa; Jaime Rosso G. – Morales & Besa; Stuart Fleischmann – Shearman & Sterling; Grissel Mercado – Shearman & Sterling; Flavio Averbug – Shearman & Sterling; Jeffrey Tate – Shearman & Sterling; Andrés De la Cruz – Cleary Gottlieb Steen & Hamilton; Francisco Cravero – Cleary Gottlieb Steen & Hamilton; Santiago Achurra – Cleary Gottlieb Steen & Hamilton; Julian Cardona – Cleary Gottlieb Steen & Hamilton; Erika Nijenhuis – Cleary Gottlieb Steen & Hamilton;

Law Firms: Philippi Prietocarrizosa Ferrero DU & Uría; Morales & Besa; Shearman & Sterling; Cleary Gottlieb Steen & Hamilton;

Clients: Citigroup Global Markets Ltd; Goldman, Sachs & Co.; HSBC; JP Morgan Securities; Republic of Chile;